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Selected Crude Oil Price Daily July 2017 (Canadian dollars per cubic metre)

Date Exchange Rate WTI
Cushing
Brent
Sullom Voe,
UK
Cdn Light Sweet
Edmonton
Synthetic
Edmonton
Western Canada Select
Hardisty
Implied
Bitumen
Hardisty
2017-07-03 1.2977 384 391 361 387 304 273
2017-07-05 1.2982 369 390 346 375 289 256
2017-07-06 1.2946 371 392 348 377 290 257
2017-07-07 1.2887 359 379 336 365 278 245
2017-07-08 - - - - - - -
2017-07-09 - - - - - - -
2017-07-10 1.2888 360 380 337 366 282 248
2017-07-11 1.2920 366 386 343 373 288 254
2017-07-12 1.2794 366 384 344 377 290 258
2017-07-13 1.2743 369 388 347 381 296 264
2017-07-14 1.2672 371 390 349 383 298 267
2017-07-15 - - - - - - -
2017-07-16 - - - - - - -
2017-07-17 1.2669 367 386 345 380 293 259
2017-07-18 1.2628 369 388 347 386 289 257
2017-07-19 1.2595 373 394 352 394 297 264
2017-07-20 1.2585 370 390 349 389 293 261
2017-07-21 1.2549 361 379 345 375 284 251
2017-07-22 - - - - - - -
2017-07-23 - - - - - - -
2017-07-24 1.2512 365 382 348 378 287 253
2017-07-25 1.2507 377 395 358 389 299 266
2017-07-26 1.2505 383 401 365 396 305 271
2017-07-27 1.2520 386 405 367 398 308 273
2017-07-28 1.2447 389 411 371 401 311 277
2017-07-29              
2017-07-30              
2017-07-31 1.2485 394 413 374 406 314 280
Average 1.2691 372 391 352 384 295 262

Explanatory Note for Crude Oil Prices

  • All prices are settlement prices, for delivery in the prompt month.
  • Prices are based on daily closing prices posted on NYMEX in US dollars per barrel.
  • Prices are converted to Canadian dollars per cubic metre using the Bank of Canada’s daily noon exchange rate and applying a volumetric ratio (6.29:1) to convert the price per barrel to a price per cubic metre.
  • NYMEX:  The New York Mercantile Exchange (NYMEX), the world's largest physical commodity futures exchange.

West Texas Intermediate Oil:  West Texas Intermediate (WTI) is the main benchmark price for light sweet crude in North America and specifies delivery at Cushing, Oklahoma.

Brent:  Brent is the main benchmark price for light sweet crude in international markets and specifies delivery at Sullom Voe terminal, United Kingdom.

Western Canadian Select:  Western Canada Select (WCS) is the main benchmark price for Canadian heavy crude and specifies delivery at Hardisty, Alberta.

Canadian Light Sweet:  Canadian Light Sweet (CLS) is the main Canadian benchmark price for light sweet crude and specifies delivery at Edmonton, Alberta.

Synthetic Crude Oil (SCO):  Synthetic crude oil is a light crude oil that is produced by upgrading bitumen. The contract for synthetic crude oil specifies delivery at Edmonton, Alberta.

Implied Bitumen Price:  The implied bitumen price is derived from the price of Western Canadian Select (WCS), which is assumed to have a blend composition of 30% condensate and 70% bitumen. The value of the condensate is subtracted from the WCS price to arrive at the implied price of bitumen. The implied bitumen price represents the value of bitumen extracted from the oil sands before condensate is added to allow the oil to flow through pipelines.

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